As the first quarter of the 2021 tax year has just finished it is now a good time to do some tax planning. As long as your situation is suitable, one way to increase your wealth and benefit from tax regulation is to purchase an investment property. I suggest you speak to your financial planner and discuss whether you would benefit from this wealth creation strategy. In this blog I…
1. JobKeeper 2.0 JobKeeper Payments will now be payable until 28 March 2021 There are two separate extension periods: • Extension period 1 – which covers the seven JobKeeper fortnights that commence on 28 September 2020 and end on 3 January 2021 • Extension period 2 – which covers the JobKeeper fortnights that commence on 4 January 2021 and end on 28 March 2021. Note: whilst employers will generally qualify…
Cash Flow, Small Business, Taxation
Welcome to the Small Business Treasure Chest. I have opened the lid of the chest and found another amazing jewel once again to share with you. If you have missed our previous Jewels , check them out HERE. This jewel I have found, is all about Capital Gains Tax and Shares. If you have a Capital Gain in 2020, you can reduce this Gain with a capital loss. Now…
Welcome to the Small Business Treasure Chest. I have looked inside our chest again and found another two amazing super tricks to share with you. Join me over the next few weeks to view other very helpful tips that will help you reduce your Income Tax for 2020. This jewel again involves Superannuation Contributions. How would you like the government to contribute to your super? Sure you would! We all…
Cash Flow, Small Business, Taxation
Welcome to the Small Business Treasure Chest. I have looked inside our chest again and found some amazing jewels to share with you. Join me over the next few weeks to view these very helpful tips that will help you reduce your Income Tax for 2020. The third jewel I have found is all about Superannuation Contributions. The maximum amount a person can contribute to their superfund for 2020 without…
Cash Flow, Small Business, Taxation
Welcome to the Small Business Treasure Chest. I have looked again inside the chest and found some amazing jewels to share with you. Join me over the next few days to view these very helpful tips that will help you reduce your Income Tax for 2020. The second jewel I have found is very relatable to those who live in WA. I call it the WaitAwhile benefit. Usually this phrase…